Ethereum dips below $2,400 as hot inflation fuels selling and long liquidations

Key takeaways Ethereum traded below $2,400, down 5.3% over 24 hours, after stronger-than-expected US inflation unsettled crypto markets. Higher Treasury yields, a stronger dollar and rising rate hike expectations added pressure to ETH. Key support sits around $ 2,353–$ 2,355, while resistance at $2,498 and $2,548 could challenge recovery attempts. Ethereum retreats as inflation raises rate hike concerns Ethereum extended its decline below $2,400 on Thursday as stronger-than-expected US inflation triggered renewed selling across cryptocurrency markets. The second-largest cryptocurrency traded near $2,370 at the time of the report, losing approximately 5.3.% over the previous 24 hours. September’s Consumer Price Index rose 0.6% month-over-month, matching expectations but accelerating from August’s 0.4% increase. Annual headline inflation reached 3.7%, above the 3.6% forecast and up from 3.4% previously.

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